Flossbach von Storch - Bond Opportunities - H

Flossbach von Storch - Bond Opportunities is a globally diversified bond fund with an active investment approach that focuses on corporate bonds, government bonds and covered bonds. The Fund flexibly exploits the opportunities of the entire bond market. In addition to bonds with an investment-grade quality, the fund management can also invest in bonds without a rating or in those that do not have investment-grade quality. Foreign currency risks are currently only entered into to a manageable extent. Securities selection is based on a fundamental research and analysis process. The fund manager relies on research tools developed in-house. The investment strategy includes in-house valuation models, ESG integration, engagement and voting. In addition, exclusion criteria defined as part of the Sub-Fund's investment policy are taken into account. The Sub-Fund is actively managed and not benchmarked against an index. The portfolio is composed by the fund manager exclusively in accordance with the criteria defined in the investment policy, reviewed regularly and adjusted if necessary. The Sub-Fund is classified as an Article 8 product within the meaning of the Disclosure Regulation (EU) 2019/2088 (SFDR).


Valor number:40149409
ISIN:LU1748855753
Authorised for distribution:AT, CH, DE, FR, LI, LU
Fund type / legal structure:UCITS / FCP
Domicile:Luxemburg
SFDR Classification:Article 8
Fund currency:EUR
Launch date:5 February 2018
Financial year end:30 September
Income utilisation:Distribution
Last distribution:0.70 EUR (as at 10 December 2021)
Management company:Flossbach von Storch Invest S.A.
Custodian bank / Paying agent:DZ PRIVATBANK S.A.
Manager:Flossbach von Storch AG
Data from:5 December 2022
Fund assets:4.750.045.141,40 EUR
NAV:105.77 EUR
Redemption price:105.77 EUR
Issue price*:105.77 EUR
TID: (as at )
Performance fee:
Issue surcharge:0.00%
Exchange commission:0.00% (based on the unit value of the units to be purchased for the benefit of the relevant distributor)

* incl. max. issue surcharge 0.00%

Source: Custodian bank / Paying agent

Annual performance (EUR, in %, As at: 05.12.2022)

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Source: Custodian bank and SIX Financial Information

Performance (EUR, in %, As at: 05.12.2022)

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Source: Custodian bank and SIX Financial Information

Accumulated Performance (EUR, in %, As at: 05.12.2022)

 05.12.202230.11.2022
YTD-7.18%-8.42%
1 year-7.07%-8.16%
3 years-0.41%-1.70%
5 years8.15%6.67%
10 years42.56%40.50%
1 year p.a.-7.07%-8.16%
3 years p.a.-0.14%-0.57%
5 years p.a.1.58%1.30%
10 years p.a.3.61%3.46%
since 04.06.200975.35%72.99%

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Source: Custodian bank and SIX Financial Information

Monthly performance (EUR, in %, As at: 05.12.2022)

 20222021202020192018201720162015201420132012
Jan-1.52%-0.56%0.65%1.84%-0.28%0.48%-1.32%2.52%1.07%-0.53%1.64%
Feb-2.58%-2.25%0.38%1.49%-0.61%1.67%1.93%1.34%1.47%0.81%1.59%
Mar-1.31%0.05%-6.03%1.60%-0.59%-0.17%3.12%0.58%0.42%0.79%0.88%
Apr-1.58%0.12%6.61%1.15%0.44%0.77%1.78%0.42%0.72%0.63%0.38%
May0.12%-0.21%1.65%0.01%0.06%0.59%0.00%-0.79%1.69%0.02%0.52%
Jun-3.76%1.30%1.42%2.63%-0.52%-0.11%1.34%-2.54%0.61%-1.60%-0.19%
Jul3.69%1.60%2.66%1.59%0.98%0.39%2.83%1.01%0.11%1.21%1.93%
Aug-1.46%-0.20%-0.44%1.46%0.05%0.29%1.15%-1.06%0.68%-0.05%1.22%
Sep-3.50%-1.14%-0.11%-0.38%-0.18%-0.03%-0.10%-1.60%-1.02%1.19%-0.23%
Oct0.08%-0.97%0.70%-0.09%-0.88%0.86%-0.16%3.41%0.73%1.04%0.59%
Nov3.36%-0.12%1.91%-0.14%-0.98%-0.10%-1.32%0.05%0.56%0.35%0.81%
Dec1.36%0.29%-0.03%0.37%-0.23%-0.12%0.87%-1.19%-0.10%-0.25%0.54%
Current year to 30.11.2022-8.42%-2.13%9.28%12.09%-2.72%4.60%10.47%2.01%7.12%3.63%10.10%
Current year to 05.12.2022-7.18%-2.13%9.28%12.09%-2.72%4.60%10.47%2.01%7.12%3.63%10.10%

Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. Where performance is compared to a benchmark, such a comparison is provided for informational purposes only and does not imply any obligation on the part of the fund manager to achieve the level of the benchmark or replicate its performance.

Source: Custodian bank and SIX Financial Information

Strategy breakdown (As at: 31.10.2022)

Corporate bonds55.05 %
Government bonds29.75 %
Covered Bonds12.21 %
Cash5.98 %
Convertible bonds0.31 %
Other (incl. derivatives)-3.31 %

Source: Depositary and Flossbach von Storch

Top 10 guarantors (As at: 31.10.2022)

Republic of Germany9.23 %
United States of America8.96 %
Kreditanstalt für Wiederaufbau3.81 %
Commonwealth of Australia3.04 %
BNG Bank N.V.2.61 %
Commerzbank AG2.51 %
Vonovia SE2.33 %
Berkshire Hathaway Inc.2.29 %
LEG Immobilien SE2.26 %
Netflix Inc.2.23 %

 Source: Depositary and Flossbach von Storch

Top 10 sectors (As at: 31.10.2022)

Financials22.90 %
Communication Services17.39 %
Consumer Discretionary12.70 %
Real Estate12.21 %
Industrials8.20 %
Health Care6.36 %
Information Technology5.63 %
Consumer Staples5.62 %
Energy3.76 %
Materials2.99 %

 Source: Depositary and Flossbach von Storch

Breakdown of ratings for bonds (As at: 31.10.2022)

AAA40.45 %
AA9.09 %
A13.99 %
BBB23.04 %
BB12.96 %
B0.34 %
NR0.13 %

Source: Depositary and Flossbach von Storch

Other key figures (As at: 31.10.2022)

Sharpe Ratio a0,37
Value at Risk (VaR) b-3,00%
Volatility c4,33%
Maximum drawdown d-13,25%

a The Sharpe ratio is a measurement for the risk/return profile of an investment. In terms of sub-funds, it determines how much outperformance (that is return on the fund’s assets minus the return of a risk-free asset) the sub-fund achieved per unit of risk.

b The value at risk (VaR) is a means to measure risk and describes the loss that, with a pre-defined probability (in this case 99 per cent) and in a predetermined holding period (in this case 20 days), will not be exceeded. Here we are dealing with an ex post VaR which has been calculated according to sub-fund prices for a given time series.

c Volatility is measured through standard deviation and is used to determine the degree of fluctuation of sub-fund prices over a given time frame.

d The “maximum drawdown” shows the maximum loss an investor can suffer through an unfortunate choice of timing for buying or selling securities in a given time period (260 days).

Historic Prices

As atShare class currencyIssue priceRedemption priceNAV*
EUR99.29
EUR102.9999.9999.27
EUR102.8899.8899.16
EUR103.04100.0499.32
EUR102.8599.8599.14
EUR99.14
EUR99.14
EUR102.5399.5498.83
EUR102.5499.5598.83
EUR102.2699.2898.57
EUR102.1899.2098.48
EUR102.3299.3498.62
EUR98.62
EUR98.62
EUR102.6199.6298.90
EUR102.6099.6198.90
EUR102.6299.6398.91
EUR102.6399.6498.93
EUR102.5999.6098.89
EUR98.89
EUR98.88
EUR102.5799.5898.87
EUR102.6899.6998.98
EUR102.7199.7299.00
EUR102.7799.7899.07
EUR102.7399.7499.02
EUR99.02
EUR99.02
EUR102.5799.5898.86
EUR102.4799.4998.78
EUR102.5499.5598.83
EUR102.5599.5698.84
EUR102.6299.6398.91
EUR98.91
EUR98.91
EUR102.6599.6698.95
EUR102.6899.6998.97
EUR102.6599.6698.95
EUR102.5899.5998.87
EUR102.5899.5998.87
EUR98.87
EUR98.87
EUR102.6099.6198.89
EUR102.4399.4598.74
EUR102.3799.3998.68
EUR102.3499.3698.65
EUR102.3199.3398.62
EUR98.62
EUR98.62
EUR102.1299.1598.44
EUR102.0399.0698.35
EUR99.2199.2198.49
EUR99.1299.1298.41
EUR98.41
EUR98.41
EUR98.41
EUR98.41
EUR99.2799.2798.55
EUR99.2299.2298.50
EUR99.2099.2098.48
EUR99.3599.3598.64
EUR98.64
EUR98.63
EUR99.4799.4798.76
EUR99.4599.4598.74
EUR99.5099.5098.79
EUR99.5599.5598.84
EUR99.6699.6698.94
EUR98.94
EUR98.94
EUR99.7499.7499.03
EUR99.7199.7199.00
EUR99.8299.8299.11
EUR99.7199.7199.00
EUR99.4899.4898.77
EUR98.77
EUR98.77
EUR99.4999.4998.78
EUR99.4399.4398.72
EUR99.4399.4398.72
EUR99.2899.2898.57
EUR99.4799.4798.75
EUR98.75
EUR98.75
EUR99.5699.5698.85
EUR98.85
EUR99.6199.6198.90
EUR99.6099.6098.89
EUR99.5899.5898.87
EUR98.87
EUR98.87
EUR99.5699.5698.85
EUR99.5599.5598.84
EUR99.5499.5498.83
EUR98.83
EUR99.5699.5698.84
EUR98.84
EUR98.84
EUR99.5499.5498.83
EUR99.4699.4698.75
EUR99.3599.3598.64
EUR99.3299.3298.61
EUR99.2599.2598.53
EUR98.53
EUR98.53
EUR98.53
EUR99.3399.3398.62
EUR99.2599.2598.54
EUR99.2499.2498.53
EUR99.2899.2898.56
EUR98.56
EUR98.56
EUR99.3999.3998.67
EUR99.5099.5098.78
EUR99.8299.8299.10
EUR99.6399.6398.91
EUR99.7699.7699.04
EUR99.04
EUR99.04
EUR99.8099.8099.08
EUR99.8299.8299.10
EUR99.9699.9699.24
EUR99.6199.6198.90
EUR99.6099.6098.88
EUR98.88
EUR98.88
EUR99.5399.5398.81
EUR99.4799.4798.76
EUR99.4899.4898.76
EUR99.5099.5098.79
EUR99.8399.8399.11
EUR99.11
EUR99.11
EUR99.9399.9399.21
EUR99.9399.9399.21
EUR99.9599.9599.24
EUR99.8999.8999.17
EUR99.8399.8399.12
EUR99.12
EUR99.12
EUR99.7499.7499.02
EUR99.5499.5498.83
EUR99.4099.4098.68
EUR99.3199.3198.61
EUR99.1199.1198.39
EUR98.39
EUR98.39
EUR99.1099.1098.38
EUR98.9998.9998.28
EUR99.0299.0298.31
EUR99.0599.0598.34
EUR99.2199.2198.49
EUR98.49
EUR98.49
EUR99.3699.3698.65
EUR99.5599.5598.83
EUR99.6899.6898.96
EUR99.6199.6198.90
EUR99.7099.7098.98
EUR98.98
EUR98.98
EUR99.8299.8299.11
EUR99.8399.8399.12
EUR99.8199.8199.10
EUR99.8499.8499.13
EUR99.8399.8399.12
EUR99.12
EUR99.12
EUR99.7499.7499.02
EUR99.6399.6398.92
EUR99.8099.8099.08
EUR99.8599.8599.13
EUR100.02100.0299.30
EUR99.30
EUR99.30
EUR100.10100.1099.38
EUR100.08100.0899.36
EUR100.15100.1599.42
EUR100.17100.1799.45
EUR100.17100.1799.45
EUR99.45
EUR99.45
EUR100.18100.1899.46
EUR100.25100.2599.53
EUR100.29100.2999.57
EUR100.32100.3299.60
EUR100.34100.3499.62
EUR99.62
EUR99.62
EUR100.38100.3899.66
EUR100.26100.2699.53
EUR99.53
EUR100.20100.2099.48
EUR100.15100.1599.43
EUR99.43
EUR99.43
EUR100.23100.2399.51
EUR100.25100.2599.54
EUR100.30100.3099.58
EUR100.31100.3199.59
EUR100.28100.2899.55
EUR99.55
EUR99.55
EUR100.24100.2499.52
EUR100.24100.2499.53
EUR100.15100.1599.42
EUR100.12100.1299.40
EUR100.13100.1399.41
EUR99.41
EUR99.41
EUR100.06100.0699.34
EUR99.9899.9899.26
EUR99.9299.9299.20
EUR99.8099.8099.08
EUR99.7999.7999.07
EUR99.07
EUR99.07
EUR99.7799.7799.05
EUR99.8299.8299.10
EUR99.8499.8499.13
EUR99.8799.8799.15
EUR99.8999.8999.17
EUR99.17
EUR99.17
EUR99.9299.9299.21
EUR99.9399.9399.22
EUR99.9699.9699.25
EUR100.02100.0299.29
EUR100.08100.0899.36
EUR99.36
EUR99.36
EUR100.10100.1099.39
EUR99.9599.9599.23
EUR99.8699.8699.14
EUR99.9499.9499.22
EUR99.9699.9699.24
EUR99.23
EUR99.23
EUR99.9599.9599.23
EUR100.07100.0799.35
EUR100.13100.1399.40
EUR100.07100.0799.35
EUR99.9099.9099.18
EUR99.18
EUR99.18
EUR99.7799.7799.05
EUR99.7599.7599.03
EUR99.6699.6698.94
EUR99.5799.5798.85
EUR99.4899.4898.77
EUR98.77
EUR98.77
EUR99.6099.6098.88
EUR99.4999.4998.77
EUR99.5499.5498.83
EUR99.5499.5498.83
EUR99.4999.4998.78
EUR98.78
EUR98.78
EUR99.2999.2998.58
EUR99.3199.3198.60
EUR99.1799.1798.45
EUR99.1899.1898.46
EUR99.0899.0898.37
EUR98.37
EUR98.37
EUR99.1399.1398.42
EUR99.0899.0898.37
EUR99.0899.0898.36
EUR98.36
EUR99.3399.3398.61
EUR98.61
EUR98.61
EUR99.3499.3498.63
EUR99.3799.3798.66
EUR99.3799.3798.65
EUR99.4799.4798.76
EUR99.5099.5098.78
EUR98.78
EUR98.78
EUR99.4699.4698.74
EUR99.3799.3798.65
EUR99.2499.2498.53
EUR99.1599.1598.44
EUR98.8598.8598.14
EUR98.14
EUR98.14
EUR98.6498.6497.92
EUR98.3998.3997.68
EUR97.9897.9897.27
EUR98.2398.2397.52
EUR98.3298.3297.61
EUR97.61
EUR97.61
EUR98.3698.3697.65
EUR98.3698.3697.65
EUR98.2598.2597.54
EUR98.2598.2597.54
EUR98.1198.1197.40
EUR97.39
EUR97.39
EUR98.0198.0197.30
EUR98.2398.2397.52
EUR98.0698.0697.35
EUR97.7697.7697.06
EUR97.4897.4896.77
EUR96.77
EUR96.77
EUR96.9296.9296.91
EUR96.6696.6696.65
EUR96.7296.7296.71
EUR96.9696.9696.96
EUR97.4497.4497.43
EUR97.43
EUR97.43
EUR97.5097.5097.50
EUR97.4997.4997.48
EUR97.4497.4497.44
EUR97.4797.4797.47
EUR97.2297.2297.21
EUR97.21
EUR97.21
EUR97.21
EUR97.21
EUR97.21
EUR97.1297.1297.12
EUR97.1797.1797.17
EUR97.17
EUR97.17
EUR97.17
EUR97.17
EUR97.2797.2797.27
EUR97.2097.2097.20
EUR97.0097.0097.00
EUR96.8796.8796.87
EUR96.9196.9196.91
EUR97.1597.1597.15
EUR97.5197.5197.51
EUR97.5197.5197.51
EUR97.7397.7397.73
EUR97.6097.6097.60
EUR97.7497.7497.74
EUR98.0898.0898.08
EUR98.0798.0798.07
EUR98.3498.3498.34
EUR98.4198.4198.41
EUR98.3998.3998.39
EUR98.4698.4698.46
EUR98.6098.6098.60
EUR98.6698.6698.66
EUR98.7498.7498.74
EUR98.7798.7798.77
EUR98.9698.9698.96
EUR99.4799.4799.47
EUR99.4699.4699.46
EUR99.5699.5699.56
EUR99.8399.8399.83
EUR100.14100.14100.14
EUR100.02100.02100.02
EUR99.9299.9299.92
EUR99.8699.8699.86
EUR99.9899.9899.98
EUR100.06100.06100.06
EUR100.06100.06100.06
EUR100.10100.10100.10
EUR100.17100.17100.17
EUR100.25100.25100.25
EUR100.20100.20100.20
EUR100.09100.09100.09
EUR100.16100.16100.16
EUR100.23100.23100.23
EUR100.35100.35100.35
EUR100.43100.43100.43
EUR100.38100.38100.38
EUR100.42100.42100.42
EUR100.56100.56100.56
EUR100.54100.54100.54
EUR100.48100.48100.48
EUR100.58100.58100.58
EUR100.44100.44100.44
EUR100.49100.49100.49
EUR100.78100.78100.78
EUR100.94100.94100.94
EUR101.06101.06101.06
EUR101.16101.16101.16
EUR101.38101.38101.38
EUR101.52101.52101.52
EUR101.44101.44101.44
EUR101.51101.51101.51
EUR101.76101.76101.76
EUR101.74101.74101.74
EUR101.76101.76101.76
EUR102.10102.10102.10
EUR102.04102.04102.04
EUR102.15102.15102.15
EUR102.19102.19102.19
EUR102.36102.36102.36
EUR102.23102.23102.23
EUR102.27102.27102.27
EUR102.26102.26102.26
EUR102.29102.29102.29
EUR102.42102.42102.42
EUR102.52102.52102.52
EUR102.52102.52102.52
EUR102.46102.46102.46
EUR102.57102.57102.57
EUR102.60102.60102.60
EUR102.64102.64102.64
EUR102.80102.80102.80
EUR102.86102.86102.86
EUR103.14103.14103.14
EUR103.08103.08103.08
EUR103.21103.21103.21
EUR103.21103.21103.21
EUR103.30103.30103.30
EUR103.32103.32103.32
EUR103.31103.31103.31
EUR103.38103.38103.38
EUR103.42103.42103.42
EUR102.98102.98102.98
EUR102.93102.93102.93
EUR102.95102.95102.95
EUR102.88102.88102.88
EUR103.01103.01103.01
EUR103.12103.12103.12
EUR103.19103.19103.19
EUR103.12103.12103.12
EUR103.02103.02103.02
EUR103.04103.04103.04
EUR103.00103.00103.00
EUR103.02103.02103.02
EUR103.04103.04103.04
EUR103.19103.19103.19
EUR103.22103.22103.22
EUR103.29103.29103.29
EUR103.32103.32103.32
EUR103.40103.40103.40
EUR103.62103.62103.62
EUR103.71103.71103.71
EUR104.01104.01104.01
EUR104.12104.12104.12
EUR104.12104.12104.12
EUR104.26104.26104.26
EUR104.35104.35104.35
EUR104.44104.44104.44
EUR105.15105.15105.15
EUR105.50105.50105.50
EUR106.00106.00106.00
EUR105.89105.89105.89
EUR105.95105.95105.95
EUR105.92105.92105.92
EUR105.71105.71105.71
EUR105.93105.93105.93
EUR106.02106.02106.02
EUR106.20106.20106.20
EUR106.39106.39106.39
EUR106.74106.74106.74
EUR106.92106.92106.92
EUR106.89106.89106.89
EUR106.83106.83106.83
EUR106.69106.69106.69
EUR106.60106.60106.60
EUR106.52106.52106.52
EUR106.58106.58106.58
EUR106.76106.76106.76
EUR106.87106.87106.87
EUR107.04107.04107.04
EUR107.02107.02107.02
EUR107.19107.19107.19
EUR107.22107.22107.22
EUR107.30107.30107.30
EUR107.61107.61107.61
EUR107.71107.71107.71
EUR107.78107.78107.78
EUR107.76107.76107.76
EUR107.61107.61107.61
EUR107.86107.86107.86
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EUR112.22112.22112.22
EUR112.06112.06112.06
EUR112.08112.08112.08
EUR112.07112.07112.07
EUR111.63111.63111.63
EUR110.89110.89110.89
EUR110.53110.53110.53
EUR110.46110.46110.46
EUR110.76110.76110.76
EUR110.32110.32110.32
EUR110.21110.21110.21
EUR109.95109.95109.95
EUR110.06110.06110.06
EUR110.15110.15110.15
EUR110.21110.21110.21
EUR110.25110.25110.25
EUR110.01110.01110.01
EUR109.60109.60109.60
EUR109.45109.45109.45
EUR109.22109.22109.22
EUR109.32109.32109.32
EUR109.67109.67109.67
EUR110.15110.15110.15
EUR109.74109.74109.74
EUR109.81109.81109.81
EUR109.61109.61109.61
EUR108.99108.99108.99
EUR108.74108.74108.74
EUR108.70108.70108.70
EUR108.54108.54108.54
EUR108.49108.49108.49
EUR108.10108.10108.10
EUR108.00108.00108.00
EUR108.16108.16108.16
EUR108.62108.62108.62
EUR108.68108.68108.68
EUR108.42108.42108.42
EUR108.20108.20108.20
EUR108.35108.35108.35
EUR108.01108.01108.01
EUR107.67107.67107.67
EUR107.61107.61107.61
EUR107.83107.83107.83
EUR107.89107.89107.89
EUR108.02108.02108.02
EUR107.90107.90107.90
EUR108.09108.09108.09
EUR107.77107.77107.77
EUR107.75107.75107.75
EUR107.66107.66107.66
EUR107.44107.44107.44
EUR107.27107.27107.27
EUR107.52107.52107.52
EUR107.48107.48107.48
EUR107.36107.36107.36
EUR107.17107.17107.17
EUR107.01107.01107.01
EUR106.58106.58106.58
EUR106.46106.46106.46
EUR106.57106.57106.57
EUR106.62106.62106.62
EUR106.40106.40106.40
EUR106.18106.18106.18
EUR105.94105.94105.94
EUR105.80105.80105.80
EUR105.47105.47105.47
EUR105.69105.69105.69
EUR105.57105.57105.57
EUR105.04105.04105.04
EUR105.14105.14105.14
EUR105.45105.45105.45
EUR105.72105.72105.72
EUR105.79105.79105.79
EUR105.89105.89105.89
EUR105.63105.63105.63
EUR105.57105.57105.57
EUR105.43105.43105.43
EUR105.71105.71105.71
EUR105.61105.61105.61
EUR105.77105.77105.77
EUR106.26106.26106.26
EUR106.36106.36106.36
EUR106.31106.31106.31
EUR106.22106.22106.22
EUR105.93105.93105.93
EUR105.88105.88105.88
EUR105.65105.65105.65
EUR105.55105.55105.55
EUR105.40105.40105.40
EUR105.01105.01105.01
EUR104.13104.13104.13
EUR102.87102.87102.87
EUR102.08102.08102.08
EUR102.69102.69102.69
EUR102.39102.39102.39
EUR102.51102.51102.51
EUR102.34102.34102.34
EUR102.48102.48102.48
EUR103.03103.03103.03
EUR103.07103.07103.07
EUR102.78102.78102.78
EUR102.56102.56102.56
EUR102.31102.31102.31
EUR102.48102.48102.48
EUR102.91102.91102.91
EUR102.86102.86102.86
EUR103.19103.19103.19
EUR103.15103.15103.15
EUR103.06103.06103.06
EUR103.38103.38103.38
EUR103.83103.83103.83
EUR103.98103.98103.98
EUR103.91103.91103.91
EUR103.71103.71103.71
EUR103.79103.79103.79
EUR103.84103.84103.84
EUR103.78103.78103.78
EUR104.22104.22104.22
EUR104.42104.42104.42
EUR105.31105.31105.31
EUR105.56105.56105.56
EUR105.51105.51105.51
EUR105.59105.59105.59
EUR106.09106.09106.09
EUR106.29106.29106.29
EUR106.39106.39106.39
EUR106.01106.01106.01
EUR106.11106.11106.11
EUR106.35106.35106.35
EUR106.01106.01106.01
EUR106.14106.14106.14
EUR106.07106.07106.07
EUR106.07106.07106.07
EUR106.18106.18106.18
EUR106.47106.47106.47
EUR106.52106.52106.52
EUR106.05106.05106.05
EUR105.88105.88105.88
EUR105.66105.66105.66
EUR105.15105.15105.15
EUR104.99104.99104.99
EUR104.90104.90104.90
EUR105.17105.17105.17
EUR105.01105.01105.01
EUR104.67104.67104.67
EUR104.54104.54104.54
EUR104.21104.21104.21
EUR104.05104.05104.05
EUR104.25104.25104.25
EUR104.00104.00104.00
EUR103.76103.76103.76
EUR104.08104.08104.08
EUR104.12104.12104.12
EUR104.33104.33104.33
EUR104.38104.38104.38
EUR104.08104.08104.08
EUR103.93103.93103.93
EUR103.72103.72103.72
EUR103.74103.74103.74
EUR103.52103.52103.52
EUR103.35103.35103.35
EUR103.29103.29103.29
EUR102.75102.75102.75
EUR102.25102.25102.25
EUR101.18101.18101.18
EUR100.87100.87100.87
EUR101.27101.27101.27
EUR100.88100.88100.88
EUR100.84100.84100.84
EUR101.45101.45101.45
EUR102.13102.13102.13
EUR101.57101.57101.57
EUR101.21101.21101.21
EUR100.79100.79100.79
EUR100.34100.34100.34
EUR100.21100.21100.21
EUR100.25100.25100.25
EUR100.02100.02100.02
EUR99.7899.7899.78
EUR100.04100.04100.04
EUR100.16100.16100.16
EUR99.6899.6899.68
EUR99.4099.4099.40
EUR99.5199.5199.51
EUR99.7899.7899.78
EUR100.37100.37100.37
EUR100.75100.75100.75
EUR101.49101.49101.49
EUR100.96100.96100.96
EUR101.17101.17101.17
EUR101.07101.07101.07
EUR100.54100.54100.54
EUR100.59100.59100.59
EUR100.51100.51100.51
EUR100.96100.96100.96
EUR101.30101.30101.30
EUR102.69102.69102.69
EUR102.91102.91102.91
EUR103.05103.05103.05
EUR103.38103.38103.38
EUR103.91103.91103.91
EUR103.58103.58103.58
EUR103.46103.46103.46
EUR103.64103.64103.64
EUR104.02104.02104.02
EUR104.39104.39104.39
EUR104.64104.64104.64
EUR104.55104.55104.55
EUR104.44104.44104.44
EUR104.35104.35104.35
EUR104.90104.90104.90
EUR105.70105.70105.70
EUR105.77105.77105.77

Opportunities

  • Participate in global bond market growth.
  • Income can be generated from regular interest payments.
  • Active interest rate, currency and risk management (e.g. from the use of derivatives).

Risks

  • Country, credit and issuer liquidity risk. Also potential exchange rate risks. If securities are illiquid (i.e. thinly traded), there is a risk that it may either not be possible to sell the assets at all or only by accepting a significant discount on the sale price. ESG criteria can restrict the selection of target investments in terms of category and number, sometimes considerably.
  • Investing in bonds may entail price risks, especially in case of rising interest rates on the capital markets.
  • Where used, derivatives can have a greater negative impact on the fund value than would be the case if the assets were acquired directly. This can affect the fund's risk profile and volatility (tendency for the price to fluctuate).

*Performance in the years 2009 to 2018 was simulated using the performance of share class I (LU0399027886) of sub-fund Flossbach von Storch - Bond Opportunities. The simulation took account of any differences in remuneration structure. Share class I and share class H have the same investment policy. Thus, there may be deviations between the redemption price and the NAV up to and including the calendar year of the issue.

Morningstar Rating™ overall: © (2022) Morningstar Inc. All rights reserved. The information contained herein: (1) is protected by copyright for Morningstar and / or its content providers; (2) may not be copied or distributed, and (3) is not guaranteed with regard to its accuracy, completeness, or timeliness. Neither Morningstar nor its content providers are liable for any damages or losses that may result from the use of this information. Ratings refer to the previous month.

For more information on Morningstar’s ratings, please visit: https://www.morningstar.co.uk/uk/help/Methodology.aspx.

Date: 31.10.2022

The Morningstar Rating shown here is based on a so-called “Track Record Extension”. This extension of the performance history implies that a back-calculation has taken place. The performance which is given dates back to before the launch of these sub-funds. The simulated performance corresponds to the methodology which is set out in the relevant Morningstar Extended Performance Methodology Paper. For more information please go to: https://www.morningstar.co.uk/uk/glossary/126106/track-record-extension.aspx.

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